May 8, 2015 / 12:25 PM / 4 years ago

Peugeot eyes re-entry to Iran's auto market - Manager Magazin

FRANKFURT, May 8 (Reuters) - PSA Peugeot Citroen is in talks to cooperate with Iranian carmaker Iran Khodro if sanctions against the Islamic Republic are lifted, Germany’s Manager Magazin cited Peugeot brand chief Maxime Picat as saying.

“We are speaking to our Iranian partners on a weekly basis about how and when we can start our activities,” the monthly magazine on Friday quoted Picat as saying in an interview.

Iran and world powers reached a framework agreement last month on curbing Iran’s nuclear programme for at least a decade, a step towards a final pact that could end 12 years of brinkmanship, threats and confrontation.

Peugeot’s Picat said he hoped an agreement could be reached in June and sanctions would then be lifted.

In the medium term, Peugeot would like to manufacture cars in Iran, he said.

“We are thinking about launching a joint venture with Khodro with which we could cover the whole spectrum from procurement to manufacturing and the sale of spare parts,” Manager Magazin quoted him as saying.

Peugeot, which used to sell 400,000 vehicles a year in Iran, would initially export higher-value models from Europe to Iran to “strengthen our image in Iran”, Picat said, and later seek to make cheaper vehicles locally. (Reporting by Maria Sheahan; editing by David Clarke)

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